Appointed Actuary

Advice tailored to your unique circumstances, your business mix and operating environment, working with boards and senior management.

Our actuarial valuations ensure general and health insurers meet prudential and professional requirements set by APRA and RBNZ.

We tailor our advice and approach to actuarial valuation with the insurer’s circumstances in mind. We will:

• Get behind the data and provide deep, clearly communicated insights
• Set suitable risk margins, using cutting-edge models
• Integrate qualitative considerations, such as the insurer’s approach to claim management and trends in the legal environment
• Access our deep industry research to benchmark outcomes.

As well as meeting prudential requirements, our FCRs are designed to assist management and boards by bringing our industry insights as well as our deep understanding of the practical issues facing insurers.

Our FCRs address both financial and non-financial aspects of an insurer’s operations that can impact on its prospective financial condition.

Finity’s in-house financial projection model produces integrated projections of the profit and loss statement and the insurer’s capital position, including APRA capital. The model can be used to project outcomes under a range of business scenarios. 

We advise on ICAAP framework design and capital management strategies, and can assist with the documentation including summary statements and annual ICAAP reports.

We undertake scenario and stress testing for insurers ranging from the small and simple to the large and complex – using approaches tailored to the individual circumstances.

We advise on the suitable risk margins to include in liability provisions for both accounting and regulatory purposes. Our sophisticated methodology integrates models of independent risk, systemic drivers of risk as well as capturing the correlations created by each source of risk. We focus on:

• Understanding and capturing the impact of tail-risk exposures
• Qualitative considerations and explicitly integrate these within our overall risk margin methodology
• Relevant benchmarking of risk margin outcomes for our clients
• Integrating smart capital management models.